Russian coal magnate expands power business with Rushydro asset swap [Reuters (UK)]
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Source: Reuters
Russian coal magnate expands power business with Rushydro asset swap - Reuters 2 Min Read MOSCOW (Reuters) - Russian power company Rushydro has agreed to swap several assets in Russia’s far eastern region with its business partner Andrey Melnichenko and plans to complete the deal by the end of 2019, it said on Thursday. As part of the swap, Melnichenko, who has been expanding in Russia’s coal power sector, will obtain the Luchegorsky steam coal mine and the Primorsk power station with 1.5 gigawatts of capacity - both in Russia’s far eastern region, where he has not had a presence so far. Melnichenko’s SUEK, Russia’s largest steam coal producer, owns Siberian Generating Company with coal power plants that have a total capacity of 10.9 gigawatts. “SUEK expands its coal empire, entering the new region at once with the largest asset in thermal generation and significant vertical integration,” said Vladimir Sklyar at VTB Capital said of the deal. In exchange, Melnichenko will transfer to R
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